Global Hotspots: Argentina harvests speed forward

The latest figures from Argentina show the soybeans harvest is 72% done, well ahead of the 64% last year, according to an Agriculture Ministry report carried by Reuters.

The corn harvest is 36% done, compared with 27% a year ago and sunseeds are 99% done, versus 100% a year ago.

USDA on Tuesday will update its production numbers for South American crops and Farm Futures expects Argentina's corn to be raised to 25 million metric tons from 24 million and soybeans to 58 million from 57 million. The previous harvest produced 26 million corn and 54 million soybeans.

2. Kazakhstan cuts forecast for grain exports - Reuters

Kazakhstan cuts forecast for grain exports, Canada grain production seen up 4%

Kazakhstan, central Asia's largest grain producer, has further cut its forecast for grain exports in the current marketing year due to bad weather that severely damaged the quality of the harvest.

Kazakhstan, a nation that is part of the Black Sea grain exporting region along with Russia and Ukraine, was hit by heavy rains and early snow in its three main grain-growing regions in the north last autumn.

It is now likely to export 6.5 million to 6.6 million metric tons in this marketing year, which ends on June 30, down from an earlier forecast of 7 million tons, Kazakh Agriculture Minister Asylzhan Mamytbekov said in a Reuters report this week.

Kazakhstan's grain exports totaled 8.709 million tonnes in the 2013/14 marketing year, up from 7.023 million in the previous season.

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3. Canada grain production seen up 4% - Attache

Production of wheat, barley, oats and corn in 2015/2016 is forecast to increase to a combined 52.8 million metric tons, up 4% from 2014/2015's 50.8 million, USDA's attache in Canada said this week.

Lower domestic supplies, due to low carry-in stocks, should cut total 2015/2016exports 3% from anticipated exports levels of 26.4 MMT for 2014/15.

Corn imports of corn are forecast to fall in 2015/2016 due to increased production, but will remain at above average levels.